Gold Rises on Geopolitical Concerns

Business

Religare

Posted By: Religare

Updated: Tuesday, August 22, 2017, 13:24 [IST]

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Gold futures closed higher in the domestic market on Monday with investors flocking to the perceived safety of the precious metal as the war of words between the U.S. and North Korea returned to the fore.

Gold Rises on Geopolitical Concerns

Traders and investors also took positions ahead of the three-day Jackson Hole, Wyo., economic policy symposium of global central bankers hosted by the Federal Reserve Bank of Kansas City beginning Thursday. They will be looking for hints from central bankers on any changes to monetary policy.

At the MCX, gold futures for October 2017 contract ended at Rs 29311 per 10 grams, up by 0.51 per cent, after opening at Rs 29,125 against a previous close of Rs 29,163. It touched the intra-day high of Rs 29,314.

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